The Graystone Company (OTC:GYST) announced today that the Company’s mining operations generated approximately 865.9 grams of gold during the month of August 2014. That is the second best month in Company’s history. The Company also estimates that its unaudited gross revenue for August 2014 was $73,075.00 This includes gold produced from bulk sampling at all of its operating gold camps and its successful Copper Campaign #2. This compares to its Q2 2014 total unaudited revenue of $123,611.00. The Company anticipates it will have record revenue in Q3. The Company’s copper project, campaign #3 will go into production as scheduled on September 15, 2014. The Company believes Copper Campaign #3 will be completed on or before November 21, 2014. The Company has already identified 75-100 tons of high grade copper/gold ore for bulk ore purchase and anticipates continued production from its Virgen Del Carmen copper claim in Peru’s Andes Mountains. The Company has received numerous questions about declining gold and copper prices and how it is affecting its operations. The Company responds with the following: 1) The Company's bulk gold and copper purchase program is mostly unaffected by fluctuating copper and gold prices. The Company negotiates a 20-30 percent discount at current market prices. The lower prices actually create a larger demand for producers to sell their ore at a discount because lower prices strain their cash flow, creating operational challenges. The Company feels this is an opportunity to increase its bulk ore purchase program. 2) The Company has decided to consolidate 5 gold mining camps into 3 camps. The Company identified the camps that have the highest concentration of gold and the lowest cost to produce. 3) The Company will continue to explore around its current operating camps but to help control costs it will not seek out new locations at this time. Currently, its 3 operating gold camps collectively sit on over 3,000 HA and are located in Peru and Suriname.
4) The two largest equipment purchases the Company has made in the last 18 months are its DAF 10 wheel dump truck and its new Doosan excavator. The total monthly financed expenditure for these two items are over $17,000.00 USD per month. The Company is happy to announce that it has accelerated its payments on these two capital investments and the DAF dump truck has been paid in full and its Doosan excavator will be paid in full on January 6, 2015. This amounts to a reduction of yearly debt payments in excess of $204,000.005) The Company recently purchased a centrifuge and 2 gravity shaker finishing tables for one of its Suriname sites using the profits from Copper campaign #1 and #2. The Company anticipates it will see a 10-20 percent increase in its gold capture rates in Suriname while maintaining its commitment to being mercury and toxic chemical free at all of its company operated mining sites. Pictures and videos of the copper campaigns can be found at www.graystone1.com Or on the Company's flicker page: https://www.flickr.com/photos/68047029@N04/ Or YouTube channel: http://www.graystone1.com/our-videos-2 Or Facebook: https://www.facebook.com/pages/The-Graystone-Company-Inc/244666725585694 About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold. Notice Regarding Forward-Looking Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. This press release may also contain or refer to forward-looking information under SEC securities legislation and may include statements regarding the estimation of mineral resources, exploration results, potential mineralization, and exploration and mine development plans, and is based on current expectations that involve a number of business risks and uncertainties. Forward- looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
|The Graystone Company, Inc.|